Lagos Free Zone receives $50 million investment boost

This equity investment in Lagos Free Zone Company will support Nigeria’s first deepsea port-based private special economic zone and aims to bridge critical infrastructure gaps, attract global businesses and drive Nigeria’s economic diversification.

“This investment demonstrates IFC’s commitment to fostering industrial growth and sustainability in Nigeria. Lagos Free Zone will become a transformative hub, enhancing Nigeria’s competitiveness in global markets,” said Dahlia Khalifa, IFC regional director.

Land development

The $50 million investment will fund the first phase of the 860-hectare Lagos Free Zone, prioritising land development, industrial facilities and logistics infrastructure.

IFC’s investment also promotes sustainability, with 15% earmarked for green initiatives, including climate-resilient infrastructure and EDGE-certified buildings.

Owned by Singapore-based Tolaram, Lagos Free Zone is integrated with Lekki Deep Sea Port, providing an efficient industrial ecosystem for streamlined import and export operations, strengthening Nigeria’s supply chain.

Nigeria’s economy is projected to grow by 3.7% by 2026, making investments in logistics and infrastructure essential for sustainable expansion.

When fully operational, Lagos Free Zone is expected to create approximately 30,000 direct and indirect jobs, contributing significantly to the nation’s GDP.

With major global brands like Kellogg’s, Colgate and Tata International already operating in Lagos Free Zone, this investment further solidifies Nigeria’s position as a regional economic powerhouse by addressing supply chain inefficiencies and enhancing port economic zone capabilities.